Question

If the interest is compounded continuously at an annual rate of 8%, how much time (in years) would it takes for a principal amount ‘p’ to become: (i) Double (ii) Triple itself

Answer 1

Step-by-step explanation:

The result is the number of years, approximately, it'll take for your money to double. For example, if an investment scheme promises an 8% annual compounded rate of return, it will take approximately nine years (72 / 8 = 9) to double the invested money.